This is the first I had heard of Idilia that was founded in 2000 and as reported by Erica Naone:

The software focuses on the problem of word-sense disambiguation—choosing the meaning of a word based on what makes the most sense in context. Word-sense disambiguation is an old artificial intelligence problem that has proved thorny over the decades. For a computer to apply a word correctly in context, it has to have a huge amount of background information—not just what’s in a dictionary but also a map of how words fit together both grammatically and conceptually.

They are applying it to search engines to give people better results. I think the greatest money will be made with mobile auto-correct algorithms that could solve a lot of text message confusion. This is the type of company Google and Apple should be looking at buying up.